London Wall Mortgage Capital PLC's Series Fleet 2021-02 Ratings Raised On Six Classes Of Notes; One Class Affirmed

Following our review of London Wall Mortgage Capital PLC's series Fleet 2021-02, we raised our ratings on six classes of notes, reflecting stable credit performance and higher credit enhancement. We also affirmed our rating on the class A notes. The transaction is backed by buy-to-let mortgage pools of first-ranking residential mortgages in England and Wales. LONDON (S&P Global Ratings) April 30, 2024--S&P Global Ratings today raised its credit ratings on London Wall Mortgage Capital PLC's series Fleet 2021-02's class B-Dfrd notes to 'AA+ (sf)' from 'AA- (sf)', C-Dfrd notes to 'AA- (sf)' from 'A- (sf)', D-Dfrd notes to 'A- (sf)' from 'BBB (sf)', E-Dfrd notes to 'BB+ (sf)' from 'BB (sf)', X-Dfrd notes to 'BBB+ (sf)' from 'B- (sf)', and

...- Following our review of London Wall Mortgage Capital PLC's series Fleet 2021-02, we raised our ratings on six classes of notes, reflecting stable credit performance and higher credit enhancement. - We also affirmed our rating on the class A notes. - The transaction is backed by buy-to-let mortgage pools of first-ranking residential mortgages in England and Wales. LONDON (S&P Global Ratings) April 30, 2024--S&P Global Ratings today raised its credit ratings on London Wall Mortgage Capital PLC's series Fleet 2021-02's class B-Dfrd notes to '##+ (sf)' from '##- (sf)', C-Dfrd notes to '##- (sf)' from 'A- (sf)', D-Dfrd notes to 'A- (sf)' from '### (sf)', E-Dfrd notes to '##+ (sf)' from '## (sf)', X-Dfrd notes to '###+ (sf)' from 'B- (sf)', and S-Dfrd notes to '##+ (sf)' from 'B- (sf)'. At the same time, we affirmed our '### (sf)' rating on the class A notes. Today's rating actions reflect the improved required credit coverage at all rating levels since closing. The transaction amortizes sequentially,...

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